QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Presented by: Scott Gregory, QuickBooks Expert Bottom Line Accounting Solutions © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Content adapted from QB year-end guide Help > Year-End Guide Topics today will be at a “high level” Coordinate with your outside CPA or QuickBooks advisor for needs specific to your business – no way to cover all the variables today. © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Preparing for Tax Time – The Groundwork Reconciling – all bank and credit card accounts (you’ve been doing that all year, right?) Square up your petty cash account Depreciation and other “journal entries” Physical inventory and related corrections © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Preparing for Tax Time – Payroll Payroll reconciliations – 100% right! Key reports for verification (Reports > Employees and P/R): Payroll summary report Summarize payroll data in Excel Key tool to use Employees > P/R Taxes > Adjust P/R Liabilities Be sure to work with your CPA in this area! © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Preparing for Tax Time – Payroll Payroll forms: W-2, W-3, 940, 941, state and local Some states may not get full credit on 940 this year  Don’t have to buy your forms directly from QuickBooks Be sure to work with your CPA in this area! © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Preparing for Tax Time – Subcontractors Verify 1099-MISC Tracking Edit > Preferences > Tax: 1099 Watch the accounts mappings Exclude credit and debit card payments! Run 1099 Reports Issue 1099 and 1096 forms Be sure to work with your CPA in this area! © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Preparing for Tax Time – Reports to Run Reports > Company and Financial (cash + accrual basis) Profit and Loss - for the year Balance Sheet – as of year-end A/R Summary – as of year-end A/P Summary – as of year-end Statement of Cash Flows – going deep! Review contents – anything look wrong? Fix and re-run © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Preparing for Tax Time – Reports to Run Familiar with the Process Multiple Report option in QuickBooks? Reports > Process Multiple Reports © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Preparing for Tax Time – Getting Info to Your CPA Backup copy – be careful with this! Accountants copy Remote access to your computer Flash drive, www.sendthisfile.com, etc. © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Preparing for Tax Time – Other QB Activities Create a backup for historical purposes Set the Closing Date – “closing the books” Clean up and re-sort lists Check file size via F2 key 150 mb or more? Archive/Clean-up Company Data Super-Condense file via QuickBooksUsers.com Move to Enterprise? © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Rolling Into The New Year – Tips for Success Keep up with data entry and reconciliations Get some training on areas of uncertainty Arrange for daily backup of your QB data Off-site and automated: Carbonite, Mozy, etc. Consider ways to streamline Doc management, etc. – add-ons Be sure to get a mid-year review of finances with your CPA for tax planning Have great success with your business in 2013! © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures Wrap-Up of Key Topics Lots of things to do as part of year-end Coordinate with outside CPA or QB specialist to adjust/fix trouble areas – don’t guess at it Consider outsourcing your payroll – lots of benefits and value in this © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

QuickBooks: Year-End Procedures 4/20/2017 8:20 PM QuickBooks: Year-End Procedures FINAL Q+A FOR TODAY! Your Presenter: Scott Gregory, QuickBooks Expert www.BetterBottomLine.com Your Host: Shannon Tucker, Accounting Users, Inc. QuickbooksUsers.com See quickbooksusers.eventbrite.com for more online seminar details! © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.